I am having trouble changing a formula for another criteria. The formula is:
=IF(OR(DATEDIF(B2,"12/31/04","y")<21,E2<1000,D20),0,ROUND(IF(G2<=90000,11. 7%*G2,IF(G2<=200000,3%*90000+8.7%*G2,3%*90000+8.7% *200000)),2))
This calculates the profit share for each employee. I need to cap total
contributions for each employee at $40000. Columns a
Compensation G
Contribution to 401 H
Employer Share I
Profit Share J
Is there an easy way to adapt this formula in the same column (J)? Or do I
need to use K, and do another IF statement? I read that you can have 7
nested...but I keep getting ERROR, too many arguments when I try to add
another IF for the total of (H1+I1+J1)<=40000. I would like it to be the
profit sharing that is reduced if the total is over 40000, but again, if I
try to do it in another IF, I get the same ERROR message. Help, please!
Barbara

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barbarat